ValuEngine Lowers Spartan Motors (NASDAQ:SPAR) to Sell

ValuEngine cut shares of Spartan Motors (NASDAQ:SPAR) from a hold rating to a sell rating in a research report released on Wednesday morning, ValuEngine reports.

A number of other equities research analysts have also weighed in on the stock. BidaskClub raised shares of Spartan Motors from a hold rating to a buy rating in a report on Monday, June 24th. Roth Capital reissued a buy rating on shares of Spartan Motors in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $12.00.

Shares of SPAR opened at $10.31 on Wednesday. The stock has a market capitalization of $381.79 million, a price-to-earnings ratio of 25.12 and a beta of 1.55. The company has a quick ratio of 1.14, a current ratio of 1.69 and a debt-to-equity ratio of 0.20. Spartan Motors has a 1-year low of $6.70 and a 1-year high of $16.10. The firm’s fifty day moving average is $9.42.

Spartan Motors (NASDAQ:SPAR) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $234.00 million for the quarter, compared to analyst estimates of $204.90 million. Spartan Motors had a net margin of 1.39% and a return on equity of 8.21%. The business’s quarterly revenue was up 35.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. On average, equities research analysts forecast that Spartan Motors will post 0.61 EPS for the current fiscal year.

The firm also recently declared a semiannual dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 17th were issued a $0.05 dividend. This represents a yield of 1.05%. The ex-dividend date of this dividend was Thursday, May 16th. Spartan Motors’s payout ratio is 20.83%.

In other Spartan Motors news, insider Daryl M. Adams sold 12,500 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $9.52, for a total value of $119,000.00. Following the sale, the insider now directly owns 664,675 shares of the company’s stock, valued at $6,327,706. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 37,500 shares of company stock worth $375,250. 4.22% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of SPAR. JPMorgan Chase & Co. boosted its holdings in shares of Spartan Motors by 94.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 94,884 shares of the company’s stock worth $1,400,000 after buying an additional 45,992 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Spartan Motors by 44.5% during the 4th quarter. Rhumbline Advisers now owns 46,989 shares of the company’s stock worth $340,000 after buying an additional 14,480 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Spartan Motors by 30.7% during the 4th quarter. Bank of New York Mellon Corp now owns 238,976 shares of the company’s stock worth $1,728,000 after buying an additional 56,153 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Spartan Motors by 35.3% during the 4th quarter. Royce & Associates LP now owns 1,287,832 shares of the company’s stock worth $9,311,000 after buying an additional 335,873 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Spartan Motors by 17.0% during the 4th quarter. Citigroup Inc. now owns 10,989 shares of the company’s stock worth $79,000 after buying an additional 1,593 shares in the last quarter. 69.94% of the stock is currently owned by institutional investors.

About Spartan Motors

Spartan Motors, Inc, through its subsidiaries, engineers, manufactures, assembles, and sells specialty and heavy-duty vehicles in the United States, Canada, South America, and Asia. It operates through three segments: Fleet Vehicles and Services, Emergency Response Vehicles, and Specialty Chassis and Vehicles.

Further Reading: What are retained earnings?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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